PSPCL awaits Rs 4,000 crore subsidy

PATIALA: The state government has failed to clear the dues of subsidy payable to the PSPCL. The power corporation may witness an increased financial burden following the government decision to waive off arrears of consumers up to 2KW load capacity ahead of assembly polls.
The government has paid a subsidy of Rs 6,237 crore including, Rs 4,900 crore in cash to PSPCL in the current financial year whereas in the last fortnight PSPCL has been paid Rs 1,100 crore, as subsidy amount by the government. The total subsidy due till October 15 is Rs 10,285 crore, leaving a defaulting sum of Rs 4,047 crore payable to PSPCL.
The PSERC has calculated a subsidy of Rs17,796 crore, including arrears of last year and this is payable in 12 equal monthly installments. It PSERC has worked out a subsidy of Rs 10668 crore for this fiscal payable to different consumer categories. It comprises Rs 6,735 crore for farm pump-set consumers, Rs 1,627 crore for SC, BC and BPL domestic consumers and Rs 2,266 crore for industrial consumers. When contacted, director finance Jatinder Goyal, confirmed that, “The dues of more than Rs 4,000 crore are yet to be cleared by the state government.”